Do Parties Adopt Model Arbitration Clauses from Arbitral Institutions?
Arbitral institutions commonly offer model arbitration clauses for parties to incorporate into their contracts. Gary Born has stated that “[i]n the overwhelming majority of cases, … international arbitration agreements are straightforward exercises, adopting either entirely or principally the model, time-tested clauses of a leading arbitral institution.”1) Gary B. Born, International Commercial Arbitration 212 (2d ed….